Delay in transfer of shares: companies must effect transfers after notices and compensate investors for opportunity losses. Companies must effect share transfers on receipt of proof of purchase acknowledged by the stock exchange/broker or indemnity bond, send registered letters to transferors within ten days seeking confirmation/no-objection with a fifteen-day response period, and effect transfers immediately if no valid prohibitory order from a competent authority is produced; benefits held back must be delivered to the transferee and exchanges shall arbitrate disputed benefit claims, while delays or lost deeds during rectification render the company liable to transfer and compensate for opportunity losses.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Delay in transfer of shares: companies must effect transfers after notices and compensate investors for opportunity losses.
Companies must effect share transfers on receipt of proof of purchase acknowledged by the stock exchange/broker or indemnity bond, send registered letters to transferors within ten days seeking confirmation/no-objection with a fifteen-day response period, and effect transfers immediately if no valid prohibitory order from a competent authority is produced; benefits held back must be delivered to the transferee and exchanges shall arbitrate disputed benefit claims, while delays or lost deeds during rectification render the company liable to transfer and compensate for opportunity losses.
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